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“33% YOY Rise in Net Revenue: Tilaknagar Industries Ltd Reports Q1 2023 Results”

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Tilaknagar Industries Ltd, an Indian-made foreign liquor (IMFL) manufacturer, has reported a 33 per cent year-on-year rise in net revenue at ₹304 crore in the quarter ended June 30. The company had recorded net revenue of ₹230 crore in the same period a year ago.

Maker of the Mansion House brand, Tilaknagar Industries’ Profit After Tax (PAT) stood at ₹25.74 crore (₹1.03 crore) during the quarter.

Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries, said, “Acute focus on diversification and innovation is driving consistent growth, every quarter. Category-first premium product launches like flavoured brandy and all-new offerings like Blue Lagoon Gin are helping us capitalise on popular consumer trends. These efforts will help us replicate and improve our strong performance, going forward.”

Tilanknagar Industries’ EBITDA grew 77 per cent to ₹38.4 crore (₹21.7 crore). Its EBITDA margins expanded over 300 basis points. 

In the quarter under review, the company achieved a year-on-year volume growth of 42 per cent against an overall IMFL industry growth of about 5 per cent. Tilaknagar Industries’ sales volumes increased to 25.1 lakh cases (17.7 lakh cases), said the company. 

As on June 30, the company’s net debt decreased ₹163 crore to ₹136 crore. As a result of reduction in debt, Tilaknagar Industries’ interest costs also reduced to ₹6 crore (₹13.3 crore) during the quarter under review. The company aims to go net-debt free by March 2025.  

Refinancing debt

Tilaknagar Industries said that it is in the final stages of refinancing debt, owed to Edelweiss Asset Reconstruction Company (EARC). This strategic move will offer the company flexibility in managing cash flows in the immediate future and will provide an entry into regular banking channels, said the company.





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